Global Wiper Systems Market to Reach $5.7 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Marred by depressed business conditions in the automobile industry, and recession in the United States, global sales of wiper systems are projected to inch upto $5.7 Billion by the year 2010. Developing regions of Asia-Pacific and Latin America are expected continue as bright spots for growth in the world market.
San Jose, CA (PRWEB) April 10, 2008 -- As the market recovers poise, factors such as, a spurt in production of integrated models and smart wiper designs, which are intelligent, quieter, and lighter, are expected to drive future gains. Given the fact that 20% of all car accidents occur due to poor visibility, wiper systems represent an important automotive safety equipment. A recovery in the automobile industry will therefore help in improving business conditions in the wiper systems market. Aggressive marketing campaigns, rising emphasis on safety, and product innovations are expected to help improve sales in mature markets. For instance, in developed countries of North America and Europe, intelligent wiper systems would be the major growth drivers for the market. These wipers, also known as rain sensing wipers, are expected to witness strong growth.
World wiper systems market in the United States is forecast to reach $1.14 billion by the year 2015, as stated by Global Industry Analysts, Inc. Asia-Pacific is expected to emerge as the market leader in terms of growth, with a CAGR of 7.96% over the period 2011 through 2015. In end-use segments, OEM Applications in Latin America is projected to create market opportunities to the tune of $165.96 million by the year 2012.
Presently, integrated wiper systems are gaining popularity among OEM players. Combining all the wiper parts - the motors, arms, and blades into one unit, known as modularization, allows automakers to considerably reduce assembly time, which in turn results in lower total production costs. For the wiper manufacturers, benefits accrue from increased economies of scale. It also enhances the ability to implement customization and product variation without greatly affecting the assembly and production processes, as interfaces that are shared among different components are standardized.
Leading players operating in the industry include - CARDONE Industries Inc., Denso Corporation, Federal-Mogul Corporation, Robert Bosch GmbH, Trico Products Corporation, and Valeo S.A.
The report titled "Wiper Systems: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides detailed analyses and coverage of the US, Canada, Japan, Europe (including France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Middle East, and Latin America markets. End-use segments independently analyzed for the above mentioned regions/countries include OEM and Aftermarket. The report includes major trends, issues, market environment, and distribution pertaining to wiper systems.
For more details about this research report, please visit
http://www.strategyr.com/Wiper_Systems_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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